GM's Partnership With Samsung to Build a New $3 Billion Electric Car Battery Plant

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General Motors is teaming up with Samsung to build a new $3 billion electric car battery plant in the US. It's the first time GM has worked with Samsung to make batteries. The California lender that has seen its shares lose over 90% of their value this year was down 50%. And sales of Carrying's biggest brand, Gucci, were flat.

Google’s advertising revenue in the first quarter of 2023 nearly matched numbers from a year ago, tens of thousands of Sudanese refugees have crossed into neighbouring Chad, and First Republic Bank saw its shares plummet nearly 50 per cent yesterday. Plus, General Motors is diversifying its EV battery production.

Mentioned in this podcast:

Google advertising bounces back with return to revenue growth

Sudan crisis threatens to bring fresh turmoil to neighbouring Chad

Sharp sell-off in First Republic shares causes alarm in Washington

GM teams with Samsung on $3bn EV battery plant in the US

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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